Is There Any Way To Make Sure A Child’s Settlement Is Used For The Child’s Benefit?

by Friedman & Ranzenhofer, PC on August 3, 2011

in Buffalo Injury Questions and Answers

When an infant in Buffalo suffers a personal injury or the wrongful death of a parent, a parent or guardian of the infant may pursue a claim for damages on the child’s behalf.  If the child does not receive compensation for damages, in some cases concerns may arise regarding how the infant’s finances will be handled.

Generally, in cases where one or both the parents are alive, they will be responsible for administering the finances of the child.  When this is not the case, a guardian may be responsible for seeing to the care of the infant until he or she reaches adulthood.  Exactly how the child’s finances will be handled depends upon the specific circumstances of each case.

It is not unusual, however, for the parties to make arrangements for the damages awarded to the child to be placed in a trust fund where it can only be withdrawn to pay for certain expenses (e.g., medical expenses) or upon certain events happening (e.g., the child reaching adulthood).  There are, however, no specific rules and the managing of the infant’s damages will be tailored to fit each case.

If you have suffered a personal injury and have any questions, we would be happy to help you.  Please feel free to call at 716-542-5444.

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